Daewoo Wins Order to Build Floating LNG Regas Vessel

Daewoo Shipbuilding and Marine Engineering announced today they will be building a 263,000ãŽ¥ LNG-FSRU (LNG Floating, Storage & Regasification unit) for Japan’s Mitsui O.S.K. Lines.

The value of the construction contract was not disclosed and delivery of the vessel is expected in mid-2016.

In a speech this past spring at OTC Houston, ConocoPhillips’ Global LNG Marketing Manager Chip Schuppert notes that these highly specialized vessels are the key to the expansion of the LNG market globally.

“FSRUs have decreased the critical mass of demand needed to be a viable new market and increased the speed of new market access,” commented Schuppert.